All and all an enjoyable watch. There are several long underexposed sections,and a few overexposed... scratch that, most of it is underexposed, severely. I still think that it's worth a glance if you have time to kill.
As far as the film's location, At
1:55 and
2:13 signs can be seen. The sign at
2:13 says Williamsburg, so presumably the film was taken fairly near there. Most of it takes place near water, so it appears to be on the East coast. Bell bottom pants make an appearance at one point, so the film is likely from the 1970s, probably the middle of them.